Hey Guys,
Allow me to preface this post by saying this is more of a question for my dad and the options we have as I am totally out of ideas. My father split my student loans 50/50 when I first started college. Since then, I have paid off my share (with the help and guidance of this board, despite me never posting thank you). However, my dad still has a relatively large sum left (About 30K).
The issue I am facing is the interest rate on the loans is 8.5% and he pays barely above the minimum, so the interest is steadily climbing. I have tried to look into alternative solutions (SoFi with me as a cosigner, etc) but they all reject us. The problem is he is technically retired from a government job he worked for 40 years and gets a pension from. The pension pays out about 50K on the books. He still works an under the table job for about 25K, but obviously SoFi and others do not allow that to be counted as additional realized income.
My question is: Is there anything else or anywhere else that may provide a lower interest rate for this remaining sum? I thought about a personal bank loan, but those are even higher.